Cost of Antigua-Barbuda citizenship reduced to US$100,000

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ST JOHN’S, Antigua — The cost for Antigua and Barbuda’s citizenship under the National Development Fund (NDF) option has been reduced to US$100,000. The previous required contribution was US$200,000.

The announcement was made by Prime Minister Gaston Browne who was speaking in parliament Thursday morning, the Antigua Observer reported.

He said the citizenship by investment programme (CIP) has been doing poorly this year.

According to the prime minister, over the last two months, there have only been three applications under the NDF.

This means that during that time, the NDF option only generated US$600,000 in revenue.

Browne said other countries such as Dominica have been doing extremely well with an NDF option price at US $100,000 – so Antigua and Barbuda will now do the same.

He added that Dominica’s NDF makes $50 million per month.

For Antigua and Barbuda, the real estate option will remain priced at US$400,000 and the business investment option will remain at US$ 1.5 million.

The prime minister said the 50 percent price reduction for citizenship under the NDF is necessary to earn revenue to rebuild Barbuda.

In a controversial move, St Kitts and Nevis recently reduced the required contribution for its citizenship by creating a Hurricane Relief Fund under its CIP where an applicant can get citizenship for US$150, 000.

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3 COMMENTS

  1. Hypocrites, all of them. Didn’t Sir Ronald Sanders, Antigua and Barbuda’s ambassador to the US, just say of the St Kitts and Nevis announcement to reduce its citizenship by investment minimum payment by 50 percent:

    “Putting it mildly, this is a most unfortunate development. If it is implemented, it will hurt the relief and rebuilding efforts for Barbuda and Dominica, both of which were devastated [by Hurricane Maria]. What is needed now is solidarity and joint action, not opportunism. It is to be sincerely hoped, that the decision will be reviewed and overturned in the interest of solidarity with neighbouring states that are truly struggling in the wake of these monstrous hurricanes and need every cent they can get” (https://wp.caribbeannewsnow.com/2017/09/24/shameful-move-st-kitts-nevis-following-hurricane-maria/ ).

    Tell us, Sir Ronald, why were “solidarity” and “joint action” so quickly thrown down the latrine hole by your government, if not in the interest of selfish “opportunism.”

  2. Law of supply and demand. If your selling something for 200K and someone else has pretty much the same product and is selling it for 100K, you are going to have fewer and fewer people buying your product until you wise up and drop the price. If they were really smart they would have made it $90,000.

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